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"Incredibly, I have heard city and state elected officials who were opponents of the project claim that Amazon was getting $3 billion in government subsidies th
by wdewind 8y ago
"Incredibly, I have heard city and state elected officials who were opponents of the project claim that Amazon was getting $3 billion in government subsidies that could have been better spent on housing or transportation. This is either a blatant untruth or fundamental ignorance of basic math by a group of elected officials. The city and state 'gave' Amazon nothing. Amazon was to build their headquarters with union jobs and pay the city and state $27 billion in revenues. The city, through existing as-of-right tax credits, and the state through Excelsior Tax credits - a program approved by the same legislators railing against it - would provide up to $3 billion in tax relief, IF Amazon created the 25,000-40,000 jobs and thus generated $27 billion in revenue. You don't need to be the State's Budget Director to know that a nine to one return on your investment is a winner."
- nerdponx 8y agoYes, it's wrong to say "we can spend that $3bn elsewhere". That said, the $3 billion is not the full price tag (externalities, etc.) and the $27 billion is not the whole story (can we see your raw data please?).
- wdewind 8y agoWhat are the other externalities that are not already addressed by taxes? Would they be more adequately addressed by other companies paying the same taxes? I'm not sure which raw data you'd like, but if you can be more specific I'll do my best to find it.